What's Going On With MicroStrategy Stock Friday?

MicroStrategy, Inc. MSTR shares are trading lower on Friday amid weakness in Bitcoin BTC/USD.

What Happened: As of Friday morning, Bitcoin is trading 2.86% lower at around $63,568.

MicroStrategy stock is currently moving below its 50 day moving average of $1,542. The company’s shares are moving at $1,492. Other crypto-linked stocks, such as Coinbase Global, Inc. COIN, are also trading lower amid weakness in Bitcoin.

On Thursday, MicroStrategy reported 2024 fiscal year second quarter earnings. The company reported a loss of $5.74 per share missing analyst estimates of a loss of 11 cents per share and revenue of $111.40 million missing analyst estimates of $122.60 million.

Also, the company reported that it now holds 226,500 bitcoin holdings at a total cost of $8.3 billion. MicroStrategy shares initially traded slightly higher at around $1,523 following the earnings report on Thursday.

The previously announced 10-1 stock split will commence at market open on August 8.

How To Buy MicroStrategy Shares

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in MicroStrategy MSTR's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Related Link: Palantir Nears The Tough $30 Barrier As Investors Watch Q2 Earnings Amid Fluctuating Stock Performance And Heightened Expectations

MSTR Price Action: At the time of writing, MicroStrategy stock is trading 3.22% lower at $1,463.15 per data from Benzinga Pro.

Image: Eivind Pedersen from Pixabay